VISVX vs. AVALX

Last updated Jul 11, 2026

VISVX (Vanguard Small Cap Value Index Fund) and AVALX (Aegis Value Fund) are both Small Cap Value Equities funds. Over the past 10 years, VISVX returned 10.47%/yr vs 19.22%/yr for AVALX. A 0.70 correlation means they provide meaningful diversification when combined. VISVX charges 0.19%/yr vs 1.50%/yr for AVALX.

Performance

VISVX vs. AVALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Small Cap Value Index Fund (VISVX) and Aegis Value Fund (AVALX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VISVX achieves a 14.93% return, which is significantly higher than AVALX's 13.55% return. Over the past 10 years, VISVX has underperformed AVALX with an annualized return of 10.47%, while AVALX has yielded a comparatively higher 19.22% annualized return.

VISVX

• 1D: 0.91%
• 1M: 0.33%
• 6M: 9.60%
• YTD: 14.93%
• 1Y: 22.02%
• 3Y*: 15.22%
• 5Y*: 8.86%
• 10Y*: 10.47%

AVALX

• 1D: 0.21%
• 1M: -3.78%
• 6M: 10.51%
• YTD: 13.55%
• 1Y: 44.79%
• 3Y*: 29.00%
• 5Y*: 21.25%
• 10Y*: 19.22%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VISVX vs. AVALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VISVX Vanguard Small Cap Value Index Fund	14.93%	8.27%	11.21%	16.92%	-9.43%	27.97%	5.68%	22.61%	-12.35%	11.67%
AVALX Aegis Value Fund	13.55%	67.06%	8.29%	13.11%	10.50%	37.67%	18.89%	25.67%	-16.95%	17.37%

Correlation

The correlation between VISVX and AVALX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since May 21, 1998	0.70

Over the past year, the correlation between VISVX and AVALX has dropped to 0.45 - well below their long-term average of 0.70, suggesting their price drivers have been diverging.

Return for Risk

VISVX vs. AVALX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VISVX

VISVX Risk / Return Rank: 51
VISVX Sharpe Ratio Rank: 43
VISVX Sortino Ratio Rank: 47
VISVX Omega Ratio Rank: 40
VISVX Calmar Ratio Rank: 67
VISVX Martin Ratio Rank: 56

AVALX

AVALX Risk / Return Rank: 90
AVALX Sharpe Ratio Rank: 94
AVALX Sortino Ratio Rank: 85
AVALX Omega Ratio Rank: 85
AVALX Calmar Ratio Rank: 95
AVALX Martin Ratio Rank: 92

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VISVX vs. AVALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small Cap Value Index Fund (VISVX) and Aegis Value Fund (AVALX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	VISVX	AVALX	Difference
Sharpe ratio: Return per unit of total volatility	1.46	2.66	-1.19
Sortino ratio: Return per unit of downside risk	2.19	3.27	-1.08
Omega ratio: Gain probability vs. loss probability	1.26	1.46	-0.20
Calmar ratio: Return relative to maximum drawdown	2.50	4.56	-2.07
Martin ratio: Return relative to average drawdown	8.83	14.62	-5.79

VISVX vs. AVALX - Sharpe Ratio Comparison

The current VISVX Sharpe Ratio is 1.46, which is lower than the AVALX Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of VISVX and AVALX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VISVX vs. AVALX - Drawdown Comparison

The maximum VISVX drawdown since its inception was -62.15%, smaller than the maximum AVALX drawdown of -73.72%. Use the drawdown chart below to compare losses from any high point for VISVX and AVALX.

Drawdown Indicators

	VISVX	AVALX	Difference
Max Drawdown Largest peak-to-trough decline	-62.15%	-73.72%	+11.57%
Max Drawdown (1Y) Largest decline over 1 year	-8.87%	-10.12%	+1.25%
Max Drawdown (3Y) Largest decline over 3 years	-24.60%	-13.59%	-11.01%
Max Drawdown (5Y) Largest decline over 5 years	-24.60%	-32.00%	+7.40%
Max Drawdown (10Y) Largest decline over 10 years	-45.39%	-48.34%	+2.95%
Current Drawdown Current decline from peak	-0.99%	-7.46%	+6.47%
Average Drawdown Average peak-to-trough decline	-9.00%	-10.93%	+1.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	3.15%	-0.65%

Volatility

VISVX vs. AVALX - Volatility Comparison

The current volatility for Vanguard Small Cap Value Index Fund (VISVX) is 4.05%, while Aegis Value Fund (AVALX) has a volatility of 4.85%. This indicates that VISVX experiences smaller price fluctuations and is considered to be less risky than AVALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VISVX	AVALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.05%	4.85%	-0.80%
Volatility (6M) Calculated over the trailing 6-month period	10.57%	13.56%	-2.99%
Volatility (1Y) Calculated over the trailing 1-year period	15.14%	17.39%	-2.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.67%	22.28%	-2.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.74%	22.14%	-0.40%

VISVX vs. AVALX - Expense Ratio Comparison

VISVX has a 0.19% expense ratio, which is lower than AVALX's 1.50% expense ratio.

Dividends

VISVX vs. AVALX - Dividend Comparison

VISVX's dividend yield for the trailing twelve months is around 1.67%, less than AVALX's 2.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVALX Aegis Value Fund	2.06%	2.34%	7.07%	2.23%	0.16%	0.00%	6.62%	2.36%	6.18%	0.00%	1.45%	0.04%
VISVX Vanguard Small Cap Value Index Fund	1.67%	1.28%	1.86%	1.98%	1.90%	1.63%	1.58%	1.95%	2.20%	1.68%	1.42%	1.85%

Frequently Asked Questions

Can I hold both VISVX and AVALX in my portfolio?

VISVX and AVALX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VISVX or AVALX?

AVALX has higher volatility (4.85%) compared to VISVX (4.05%). In terms of maximum drawdown, VISVX dropped -62.15% vs AVALX's -73.72%.

Which has better risk-adjusted returns?

AVALX currently has the higher Sharpe Ratio (2.66 vs 1.46), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.